A note on waiting

Pieter A. Gautier
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Pieter A. Gautier: Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics

No 37, Serie Research Memoranda from VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics

Abstract: When students apply to universities or unemployed workers search in the labor market, an increase of time input of one person (resulting in more applications) will increase the waiting time of the others. In this paper it will be show that in a decentralized market there will be excessive congestion Moreover, congestion increases with both the mean and the variance of the net benefits associated with waiting across the population.

JEL-codes: J22 J64 (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:vua:wpaper:1997-37

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